2011 (11) TMI 663

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..... first appellate order on several grounds impugning action of the Ld CIT(A) in allowing the amount of Rs. 5,00,000/- u/s. 10(10C) of the Act as exemption on the basis of original return of income filed by the assessee. 2. We have heard the Ld. D.R. and have considered his argument as well as orders of the authorities below. 3. The assessee an employee of State Bank of India had claimed exemption .....

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..... In this regard, Mumbai Bench of the Tribunal has followed the decision of Hon'ble jurisdictional Mumbai High Court in the case of CIT Vs. Koodathil Kallyatan in Income Tax Appeal No. 53 of 2008. The Tribunal has also followed its earlier decision in the case of Vaisali A. Shelar & Ors. Vs. ACIT, 109 TTJ (Mum) 607. Since no contrary decision of appellate authority has been cited by the Department b .....

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